BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT 251 2. Does the entity have processes in place to avoid/ manage conflict of interests involving members of the Board? (Yes/No) If Yes, provide details of the same. [GRI 2-10, 2-15] Yes, the Company has laid out a separate Code of Conduct for the Board of Directors which sets clear guidelines for avoiding and disclosing actual or potential conflicts of interest with the Company. Further, the Company also receives disclosure of interest at regular intervals from the Board. Name of the Policy: Code of Conduct for Directors Web-Link: https://www.mahindra.com/investor-relations/policies-and-documents PRINCIPLE 2 BUSINESSES SHOULD PROVIDE GOODS AND SERVICES IN A MANNER THAT IS SUSTAINABLE AND SAFE ESSENTIAL INDICATORS 1. Percentage of R&D and capital expenditure (capex) investments in specific technologies to improve the environmental and social impacts of product and processes to total R&D and capex investments made by the entity, respectively. FY 2023-24 % FY 2022-23 % Details of improvements in environmental and social impacts R&D 47* 23 Development of Trem 4, Trem V, CPCB4, Stage V Technologies – to reduce air pollution – Mitigate Global warming effects Electric tractor – Concept development of e-tractor & POC completion Facility addition for Born Electric vehicle development – Mainly Battery & Electric Vehicle technology development labs/ Inhouse testing facilities Development of Born Electric Vehicles – Zero Tailpipe emission & improving air quality – Reducing reliance on Fossil fuel Capex 28* 13 * A large amount of capital expenditure and R&D expenses related to electric vehicles & other technologies to improve the environmental and social impacts of products and processes are done through a separate entity Mahindra Electric Automobile Limited (MEAL) [a Subsidiary of the Company]. The same has been included in the scope of reporting. 2. a. Does the entity have procedures in place for sustainable sourcing? (Yes/No) [GRI 308-1, 414-1] Yes b. If yes, what percentage of inputs were sourced sustainably? [GRI 308-1, 414-1] The Company has been working to enhance the degree of sustainability associated with its sourcing practices under “ONE SOURCING”. As part of the sourcing strategy, the Company has set up vendor parks near manufacturing plants, sources from tightly knit clusters and optimizes logistics to reduce fuel consumption, emissions and carbon footprint. Out of the suppliers assessed in FY 2023-24, 45% of suppliers are using renewable energy and 58% of suppliers are using recycled water. Further, the Company is exploring potential collaboration with suppliers towards the adaptation of renewable energy through group companies who produce renewable energy. 34.75% of suppliers by purchase value are certified either for ISO 14001 or 45001. 3. D escribe the processes in place to safely reclaim your products for reusing, recycling and disposing at the end of life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous waste and (d) other waste. [GRI 3-3, 306-2] CERO, which is India's first and largest network of vehicle recycling facilities, is a brand under subsidiary Mahindra MSTC Recycling Private Limited, established in collaboration with Government of India Enterprise (GOI). CERO strives to achieve the goal of zero pollution, wastage and metal scrap imports.
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